Zscaler, Inc. (NASDAQ:ZS) Stake Decreased by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC lessened its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 21.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,805 shares of the company’s stock after selling 1,067 shares during the period. Mach 1 Financial Group LLC’s holdings in Zscaler were worth $843,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Alpha Cubed Investments LLC bought a new stake in Zscaler during the fourth quarter worth approximately $205,000. Van ECK Associates Corp raised its holdings in Zscaler by 16.4% during the fourth quarter. Van ECK Associates Corp now owns 957 shares of the company’s stock worth $212,000 after purchasing an additional 135 shares in the last quarter. Choreo LLC bought a new stake in Zscaler during the fourth quarter worth approximately $266,000. Del Sette Capital Management LLC bought a new stake in Zscaler during the fourth quarter worth approximately $1,463,000. Finally, Convergence Investment Partners LLC raised its holdings in Zscaler by 6.5% during the fourth quarter. Convergence Investment Partners LLC now owns 1,891 shares of the company’s stock worth $419,000 after purchasing an additional 115 shares in the last quarter. Institutional investors own 46.45% of the company’s stock.

Zscaler Trading Down 3.4 %

ZS stock traded down $6.10 during midday trading on Tuesday, reaching $172.94. The company’s stock had a trading volume of 1,652,393 shares, compared to its average volume of 2,201,910. The business’s 50-day simple moving average is $197.03 and its 200-day simple moving average is $203.74. The stock has a market cap of $25.92 billion, a PE ratio of -182.04 and a beta of 0.81. Zscaler, Inc. has a 52 week low of $84.93 and a 52 week high of $259.61. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.08. The company had revenue of $525.00 million for the quarter, compared to analysts’ expectations of $507.56 million. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. As a group, sell-side analysts expect that Zscaler, Inc. will post -0.8 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ZS shares. Barclays decreased their price target on shares of Zscaler from $259.00 to $240.00 and set an “overweight” rating on the stock in a research report on Friday, March 1st. Macquarie restated an “outperform” rating and set a $245.00 price target on shares of Zscaler in a report on Tuesday, March 19th. BMO Capital Markets lowered their price target on shares of Zscaler from $268.00 to $255.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Robert W. Baird boosted their price target on shares of Zscaler from $255.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Finally, Morgan Stanley upped their price objective on shares of Zscaler from $195.00 to $214.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Five investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $230.24.

Insider Buying and Selling

In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $408,512.25. Following the transaction, the chief executive officer now directly owns 367,152 shares in the company, valued at approximately $70,915,408.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Syam Nair sold 2,893 shares of Zscaler stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $558,782.95. Following the completion of the sale, the insider now owns 137,294 shares of the company’s stock, valued at approximately $26,518,336.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of Zscaler stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $408,512.25. Following the sale, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at approximately $70,915,408.80. The disclosure for this sale can be found here. Insiders have sold a total of 26,715 shares of company stock worth $5,865,882 over the last ninety days. Company insiders own 19.20% of the company’s stock.

About Zscaler

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.